The Chemiluminescence Immunoassay Market is estimated to be valued at US$ 7.01 Bn in 2023 and is expected to exhibit a CAGR of 8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Chemiluminescence immunoassay is a technique used in research and clinical laboratories to detect and quantify the presence and concentration of analytes from biological samples. It is a highly sensitive technique that utilizes the production of light from a chemical reaction to measure the concentration of substances. Chemiluminescence immunoassay provides quantitative measurements of analytes such as peptides, proteins, hormones, drugs, and metabolites in biological samples like serum, plasma, urine and others. The technology is widely used in diseases diagnosis and monitoring owing to its high specificity, sensitivity, throughput, and cost-effectiveness.
Market Overview:
Chemiluminescence immunoassay equipment are used in various applications such as in infectious disease testing, endocrinology testing, cardiac marker testing, drugs of abuse testing, fertility & pregnancy testing, and others. Rising prevalence of chronic diseases along with increasing demand for technologically advanced treatment and diagnostic techniques for better management of diseases is driving the growth of chemiluminescence immunoassay market.
Market Dynamics:
Growth of the global chemiluminescence immunoassay market is driven by increasing demand for immunochemistry testing and continuous technological advancements in diagnostic methods. Rising prevalence of chronic and infectious diseases and improvement in accessibility of health facilities are also contributing to the market growth. According to the National Diabetes Statistics Report published by Centers for Disease Control and Prevention in 2022, around 37.3 million people were suffering from diabetes in the United States. Increasing cases of lifestyle diseases are expected to augment the demand for chemiluminescence immunoassay as it is widely used in diagnosis and management of cardiac diseases, endocrine disorders and other chronic conditions. However, availability of alternative diagnostic methods and high costs associated with certain immunoassay instruments are some of the factors expected to hamper the market growth over the forecast period.
SWOT Analysis
Strength:
- Chemiluminescence immunoassay techniques provide highly sensitive and specific detection of antigens or antibodies in a sample. It has three to four orders of magnitude higher sensitivity than traditional ELISA.
- CLIA assays are faster than traditional ELISA methods, with results available in 1-2 hours compared to ELISA which requires overnight incubation. They are also easier to perform.
- The technology provides automated, random-access testing capabilities well-suited for high-volume clinical laboratories.
Weakness:
- CLIA instruments require large capital investments and regular maintenance which increases operational costs.
- Low complexity CLIA systems have limited throughput capabilities compared to medium and high complexity analyzers.
Opportunity:
- Growing elderly population suffering from chronic diseases is increasing the demand for diagnostic testing worldwide. This presents an opportunity for the chemiluminescence immunoassay market.
- Point of care testing is a growing application area for CLIA techniques due to need for rapid bedside testing. This presents an opportunity for portable CLIA analyzers.
Threats:
- Presence of inexpensive alternative techniques like ELISA can hamper the growth of CLIA market.
- Stringent regulatory norms governing IVD devices increases compliance costs for players in this market.
Key Takeaways
The Global Chemiluminescence Immunoassay Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing burden of chronic diseases. Growing geriatric population suffering from conditions like cardiac diseases and diabetes is driving the demand for diagnostic testing.
Regional analysis - North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to presence of advanced healthcare infrastructure and availability of reimbursement for diagnostic tests in the region. Asia Pacific is expected to exhibit fastest growth during the forecast period supported by increasing healthcare spending, rising medical tourism, and growing awareness about early disease diagnosis.
Key players operating in the chemiluminescence immunoassay market are DiaSorin S.p.A., Abbott Laboratories, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers, Beckman Coulter Inc., F. Hoffmann-La Roche AG, Inova Diagnostics, Inc., Maccura Biotechnology Co., Ltd., Tosoh Corporation, and Ortho Clinical Diagnostic. These players are focusing on new product launches, geographical expansion and adoption of inorganic growth strategies like mergers and acquisitions to gain leading position in the market.
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